Virginia

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NewsOperationsSouth CarolinaVirginia

AgeWell Senior Living Assumes Management of Seven Communities in Virginia, South Carolina

by Hayden Spiess

NORTH PALM BEACH, Fla. — AgeWell Senior Living has assumed the management of seven communities located in Virginia and South Carolina.  The properties include communities in Berryville, Fishersville and Harrisonburg, Virginia, as well as communities in Camden, Fort Mill, Harstville and Indian Land, South Carolina.  “We are excited to welcome these communities to AgeWell,” says David Mills, president and chief operating officer of Florida-based AgeWell. “This expansion reflects our commitment to thoughtful growth and our belief that strong community operations begin with exceptional resident and team member experiences.” Established in 2009, …

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Watercrest Fredericksburg
Assisted LivingDevelopmentMemory CareNewsVirginia

Watercrest Senior Living Group Opens 142-Unit Community in Richmond Metro

by Hayden Spiess

FREDERICKSBURG, Va. — Watercrest Senior Living Group, with partners Harbert Seniors Housing Fund II and Centric Development, has opened a new luxury senior living community in Fredericksburg, roughly 60 miles north of Richmond.  Totaling 142 units, Watercrest Fredericksburg Assisted Living and Memory Care opened in early April.  The community features 106 assisted living and 36 memory care apartments. As of mid-May, memory care units at the property were 55 percent occupied, and assisted living units were 35 percent occupied.  Watercrest began development of the community in fall 2024.  Watercrest and Harbert Seniors Housing …

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Richmond-Community
AcquisitionsIndependent LivingNewsVirginia

Blueprint Arranges Sale of 122-Unit Property in Richmond

by Hayden Spiess

RICHMOND, Va. — Blueprint has arranged the sale of a 122-unit senior living property located in Richmond.  Built in 1987, the community features independent living residences.  A publicly traded company sold the property for an undisclosed price. Kyle Hallion, Kory Buzin, Ben Firestone and Steve Thomes of Blueprint represented the seller in the transaction. 

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Assisted LivingDevelopmentNewsVirginia

Commonwealth Senior Living Plans 24-Unit Expansion at Community in Chesapeake, Virginia

by Hayden Spiess

CHESAPEAKE, Va. — Commonwealth Senior Living has announced plans for an expansion at Commonwealth Senior Living at Cedar Manor in Chesapeake. With the expansion, which will add 24 assisted living apartments, the community will total 85 units, with capacity to serve 126 residents.  The new assisted living units will include 10 one-bedroom apartments and 14 studio apartments. Construction is scheduled for completion in August 2027, and the community will remain fully open throughout the project.  Commonwealth’s portfolio includes communities in Connecticut, Michigan, Pennsylvania, Maryland and Virginia. 

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Riviera-Alexandria_Alexandria-Va
AcquisitionsMarylandNewsVirginia

Chiron Agrees to Acquire Three Communities for $425M

by Hayden Spiess

ALEXANDRIA, Va. and NORTH BETHESDA, Md. — Chiron Real Estate (NYSE: XRN) has entered into purchase agreements to acquire three senior living communities. Chiron is acquiring the properties from affiliates of Silverstone Senior Living for an aggregate price of $425 million.  The acquisitions mark the REIT’s first entry into the seniors housing sector. “We believe this is an attractive time to enter the sector, given the favorable long-term demand outlook and limited new supply,” says Mark Decker, chief executive officer of Chiron. “Each of our acquisition communities are newly constructed and …

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White-Springs-Senior-Living_Warrenton-Va
AcquisitionsAssisted LivingMarylandMemory CareNewsVirginia

Morgan Stanley Sells Spring Arbor Portfolio for $296M 

by Hayden Spiess

NEW YORK CITY — Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial have completed the sale of a portfolio of 11 communities within the Spring Arbor Senior Living collection. An undisclosed buyer purchased the communities for $296 million.  Located in Maryland and Virginia, the properties total 795 assisted living and memory care units. According to Morgan Stanley, the communities surpassed 90 percent occupancy in recent years. Foundry will continue to operate the properties through its affiliated Allegro Living platform.  This marks the …

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Skilled-Nursing-Facility_Virginia
AcquisitionsNewsSkilled NursingVirginia

Blueprint Brokers Sale of 570-Bed Skilled Nursing Portfolio in Virginia

by Hayden Spiess

CHICAGO — Blueprint has brokered the sale of a skilled nursing portfolio totaling 570 beds in Virginia. Three of the four properties were originally constructed in the 1970s. The other facility was developed in 2005.  Michael Segal, Jacob Gehl, Ryan Chase, Daniel Waldhorn and Dillon Rudy of Blueprint arranged the transaction on behalf of the seller, a REIT.  Blueprint’s marketing process initially drew 14offers from potential buyers. A New York-based owner and operator was selected as the buyer after several rounds of bidding. 

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Sancerre-Atlee-Station_Mechanicsville-Va
AcquisitionsNewsVirginia

Clarion Partners Completes First Seniors Housing Acquisition

by Hayden Spiess

MECHANICSVILLE, Va. — Investment firm Clarion Partners has acquired Sancerre at Atlee Station in Mechanicsville, marking the first seniors housing acquisition for the company. NexCore Group sold the property for an undisclosed price.  Experience Senior Living, a subsidiary of NexCore, will continue to operate the community.  Opened in September 2023, Sancerre at Atlee Station totals 103 units, with independent living, assisted living and memory care options.  BWE investment Sales, an affiliate of BWE, facilitated the transaction.  “Senior housing is a high-conviction strategy for Clarion,” says Julie Robinson head of healthcare at …

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AcquisitionsAssisted LivingNewsSkilled NursingTennesseeVirginia

Blueprint Brokers Sale of 402-Bed Portfolio in Tennessee, Virginia

by Hayden Spiess

JOHNSON CITY, Tenn. — Blueprint has arranged the sale of a 402-bed portfolio located in Tennessee and Virginia.  Ballad Health, a Johnson City, Tennessee-based not-for-profit integrated healthcare system, was the seller.  The portfolio comprises three skilled nursing facilities and one assisted living community. Ahava Healthcare, a New York-based owner and operator, acquired the portfolio for an undisclosed price. 

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Avonlea-Senior_Chantilly-Va
Affordable HousingDevelopmentIndependent LivingNewsVirginia

True Ground Housing Partners Underway on $64M Affordable Seniors Housing Community in Metro D.C. 

by Hayden Spiess

CHANTILLY, Va. — True Ground Housing Partners has broken ground on a new affordable seniors housing community in Chantilly, roughly 30 miles outside Washington, D.C. Dubbed Avonlea Senior, the development will be situated within the Avonlea Town Center master-planned community by Peterson Cos.  Upon completion, the project will comprise 137 units reserved for residents age 55 and older. The property will also feature a wellness suite, business center and two community rooms.  Development costs will total roughly $64 million. Completion of the community is scheduled for summer 2026.  Financing for the …

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